SOLUTION: Randy wants to move his savings account to a new bank that pays a better interest rate at 3.5% so that he can earn $100 in interest faster than his old bank. If he was $800 to the
Algebra.Com
Question 984197: Randy wants to move his savings account to a new bank that pays a better interest rate at 3.5% so that he can earn $100 in interest faster than his old bank. If he was $800 to the new bank how long will it take him to earn his hundred dollars in his interest
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Simple interest? Compound interest? Number of compounding periods per year?
John
My calculator said it, I believe it, that settles it
RELATED QUESTIONS
Mark wants to invest $10,000 to pay for his daughter's wedding next year. He will invest... (answered by ikleyn)
A savings account in the Emigrant Savings Bank in New York now earns 2.25% simple... (answered by josmiceli)
Translate to a system of equations and solve.
Mark wants to invest $10,000 to pay for... (answered by Boreal)
Preston received a paycheck for $900.00 and he wants to invest it in a savings account. A (answered by josmiceli)
Sam has a savings account that pays an interest rate of 11%, and he wants to know how... (answered by addingup)
Michael wants to receive a total of $760 on his investment. He wants to invest part of... (answered by Earlsdon)
1.Marina had an accident with her car and the repair bill came to $800. She didn’t have... (answered by ikleyn)
sean plans to invest $10,000 in a savings account that pays 1.5% compounded quarterly.... (answered by addingup)
James wants to buy a flat screen television for his new apartment. He has saved $700, but (answered by mathmate)